For many Americans finding affordable family medical insurance coverage is difficult, if not impossible. As the economy struggles, more employers have cut back on medical insurance benefits, while medical insurance premiums continue to rise. Many families are living with no family medical insurance at all. There are things you can do to cut back on your health care expenses.
Whether you have affordable health coverage or not, here are 10 ways you can cut back on your medical expenses.
1. Check your hospital bills carefully. Hospital bills often contain errors-charges for services or supplies never received, duplicate charges, simple errors- keep a list of the tests you receive in the hospital and check it against your bill when you get it. If you find a mistake, request a new bill from the billing department and make sure your insurance company receives the right one.
2. Follow orders. It's far too easy to ignore the advice of your doctor or pharmacists. Remember, they give you advice because it can cut your recovery time or prevent a relapse. You can save on your share of hospital visits, doctor's appointments and prescription costs by following doctor's orders the first time around.
3. Get in shape! You can save as much as 26% on medical expenses if you lose that excess weight and get in shape. So get moving- start walking, biking, swimming, dancing- whatever you enjoy most to get your body moving on a daily basis.
4. Buy generic. According to the National Association of Chain Drug Stores, generic prescriptions cost as much as 1/3 less than name brand medications. Over the counter medications also come in generics and can save you hundreds of dollars in a year's time.
5. Ask for samples. Drug companies give free samples to doctors, so when you need a prescription, don't hesitate to ask your doctor for samples. Samples also allow you to find out if a new prescription will work for you before you shell out your hard earned money at the pharmacy.
6. Take advantage of open enrollment. Your employer sponsored medical insurance will have an open enrollment annually. Take advantage by checking out all the plans to make sure you are still getting the most affordable health coverage you can to fit your family's needs.
7. Follow the fine print. If your medical insurance requires you get a referral or pre-certification for certain services, make sure you get them every time you need them. Most of the time, you will need a referral to see a specialist or have expensive tests done. Read your policy carefully- and do what you need to do to keep costs down.
8. Use your network. You can save as much as 50% by seeing providers within your network. If you're having surgery, make sure your anesthesiologist, radiologists and other specialists are in your network. If not, call your insurance company and ask for an exception. You may just be surprised at how often they say yes.
9. Use your Flexible Spending Account. Many employers offer a FSA in their benefit package. Your FSA lets you set aside pre-tax dollars for out of pocket medical expenses. Keep all your receipts and submit them in a timely manner to take full advantage of this money saving benefit.
10. Make COBRA work for you if you're leaving your job. If you know you are leaving your job in the next year, switch to the lowest cost health plan you can to save money on your COBRA costs between jobs.
Whether you have affordable health coverage or not, here are 10 ways you can cut back on your medical expenses.
1. Check your hospital bills carefully. Hospital bills often contain errors-charges for services or supplies never received, duplicate charges, simple errors- keep a list of the tests you receive in the hospital and check it against your bill when you get it. If you find a mistake, request a new bill from the billing department and make sure your insurance company receives the right one.
2. Follow orders. It's far too easy to ignore the advice of your doctor or pharmacists. Remember, they give you advice because it can cut your recovery time or prevent a relapse. You can save on your share of hospital visits, doctor's appointments and prescription costs by following doctor's orders the first time around.
3. Get in shape! You can save as much as 26% on medical expenses if you lose that excess weight and get in shape. So get moving- start walking, biking, swimming, dancing- whatever you enjoy most to get your body moving on a daily basis.
4. Buy generic. According to the National Association of Chain Drug Stores, generic prescriptions cost as much as 1/3 less than name brand medications. Over the counter medications also come in generics and can save you hundreds of dollars in a year's time.
5. Ask for samples. Drug companies give free samples to doctors, so when you need a prescription, don't hesitate to ask your doctor for samples. Samples also allow you to find out if a new prescription will work for you before you shell out your hard earned money at the pharmacy.
6. Take advantage of open enrollment. Your employer sponsored medical insurance will have an open enrollment annually. Take advantage by checking out all the plans to make sure you are still getting the most affordable health coverage you can to fit your family's needs.
7. Follow the fine print. If your medical insurance requires you get a referral or pre-certification for certain services, make sure you get them every time you need them. Most of the time, you will need a referral to see a specialist or have expensive tests done. Read your policy carefully- and do what you need to do to keep costs down.
8. Use your network. You can save as much as 50% by seeing providers within your network. If you're having surgery, make sure your anesthesiologist, radiologists and other specialists are in your network. If not, call your insurance company and ask for an exception. You may just be surprised at how often they say yes.
9. Use your Flexible Spending Account. Many employers offer a FSA in their benefit package. Your FSA lets you set aside pre-tax dollars for out of pocket medical expenses. Keep all your receipts and submit them in a timely manner to take full advantage of this money saving benefit.
10. Make COBRA work for you if you're leaving your job. If you know you are leaving your job in the next year, switch to the lowest cost health plan you can to save money on your COBRA costs between jobs.
SHARE
